Gaming Profits Down
Thursday, June 16, 2011 at 15:02
For the second year in a row, First Nations in the province will be getting less gaming money.
First Nations and Metis Relations Minister Ken Chevaldayoff confirms the amount of money going into the First Nations Trust is down slightly from last year.
The payout to the First Nations Trust will be $46.3 million, that’s down nearly $2 million from last year.
The minister says a number of factors contributed to the decline, such as the world recession and after-effects of a strike at the gaming corporation last year.
Meantime, the chief of the Federation of Saskatchewan Indian Nations says he is watching the situation closely.
Guy Lonechild says there were signs early on that the payout might not be as much as last year.
Like the minster, Lonechild feels the strike at Casinos Regina and Moose Jaw had an impact.
The president of SIGA also agrees a drop in gaming money paid to the First Nations Trust is likely a result of the world-wide economic meltdown from a few years ago.
Zane Hansen says economic conditions during the 2009-2010 year were still soft due to the economic meltdown, and it carried over somewhat to last year.
Hansen says SIGA recorded a profit of $64.1 million last year.
He explains much of that will go to the trust as well as the community development corporations.
Hansen says he expects the upcoming year will be a slow and steady one with modest gains.
The chief says he thinks internet gaming is something that needs to be looked at closely to help bolster the industry here at home.
Chevaldayoff says that’s something they’ll be looking at.
He notes they’re already watching the province of B.C., which is at the forefront of the internet gaming experience.